Bank underwriters check these monthly expenses and draw conclusions about your spending habits. For example, several maxed out credit cards might raise red flags with a bank, causing it to scrutinize all other aspects of your financial profile.
How do I know if a loan company is legitimate?
How to spot a legitimate loan company
- Check for contact information. A lender's phone number, email address and physical address should be readily available on the website, even if it's an online-only lender.
- Investigate online reviews.
- Look at the Better Business Bureau.
- Make sure it's registered.